An investigation for investors in Audience Inc (NASDAQ:ADNC) shares over potential securities laws violations by Audience Inc was announced and NASDAQ:ADNC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/10/2012 -- An investigation on behalf of investors of Audience Inc (NASDAQ:ADNC) shares over potential securities laws violations by Audience Inc and certain of its directors and officers in connection certain financial statements was announced .
Investors who purchased shares of Audience Inc (NASDAQ:ADNC), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Audience Inc (NASDAQ:ADNC) concerning whether a series of statements by Audience Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Audience Inc (NASDAQ:ADNC) reported that its annual Revenue rose from $2.45 million in 2008 to $97.67 million in 2011 and its Net Loss of $14.49 million in 2008 turned into a Net Income of $8.29 million in 2011.
Then on September 6, 2012, after the market closed, Audience, Inc. provided an update on the prospects for use of its processor intellectual property in the next generation mobile phone release of a large OEM customer. Additionally, Audience provided an update to its business outlook for the third quarter of 2012. Audience Inc said that it sells processors and licenses its processor IP to Apple Inc. and certain of its subsidiaries for inclusion in their mobile phones and that it now believes that it is unlikely that Apple Inc. and certain of its subsidiaries will enable Audience's processor IP in its next generation mobile phone.
Shares of Audience Inc (NASDAQ:ADNC) dropped from $18.90 on September 6, 2012 to $6.00 on September 7, 2012.
Those who purchased shares of Audience Inc (NASDAQ:ADNC) and currently hold those Audience Inc shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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